ISLAMABAD: Pakistan needs urgent structural reforms to reduce dependence on fossil fuels, boost export competitiveness and accelerate industrial growth to effectively address climate change, experts said at a seminar held here on Thursday.
The discussion, titled “Driving a Just Industrial Transition: Role of Multilateral Development Banks (MDBs) and Solar Rush in Pakistan’s Textile Sector,” was organised by Alternate Development Services (ADS). Speakers stressed aligning MDB financing with national priorities, accelerating solar adoption in the textile sector and ensuring climate justice through concessional finance and debt relief.
A study covering 80 textile mills revealed 237MW of installed solar capacity, with potential to achieve up to 87pc renewable energy at the lowest cost and cut up to 1.76 billion kg of annual carbon emissions. Experts also highlighted policy gaps, regulatory barriers under CTBCM, and the need for grants over loans to avoid further debt stress.
